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Are there zombie firms in France?
[Y-a-t-il des entreprises zombies en France ?]

Author

Listed:
  • Sanvi Avouyi-Dovi
  • Benjamin Bureau
  • Rémy Lecat
  • Jean-Pierre Villetelle

Abstract

Firms in difficulty benefiting from loans at very low rates, known as "zombies firms", remain rather scarce in France. The share of these firms according to size has been broadly stable over the past decade. In 2014 they accounted for about 2.5% of SMEs and slightly more than 1% of the others (Large Enterprises, Mid-Tier Enterprises and Holdings). One deduction is that zombie loans should not be viewed as one of the key factors impairing labor productivity in France. Les entreprises en difficulté bénéficiant de crédits aux taux très bas, dites « zombies », restent assez rares en France. Leur part par taille d’entreprise est globalement stable depuis une décennie. En 2014, elles représentaient environ 2,5 % des PME et un peu plus de 1 % des autres (grandes entreprises, entreprises de taille intermédiaire et holdings). Les prêts zombies ne sauraient donc être un des facteurs-clé handicapant la productivité du travail en France.

Suggested Citation

  • Sanvi Avouyi-Dovi & Benjamin Bureau & Rémy Lecat & Jean-Pierre Villetelle, 2017. "Are there zombie firms in France? [Y-a-t-il des entreprises zombies en France ?]," Eco Notepad (in progress) 09, Banque de France.
    • Handle: RePEc:bfr:econot:09
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